Why Wells Fargo customers won’t be able to sue the bank over fake accounts

One major group directly affected by the Wells Fargo scandal — the customers who had fraudulent accounts opened in their names — may have their hands tied.

As lawmakers pointed out at congressional hearings Thursday and last week, many Wells Fargo customers are blocked from suing the company because of arbitration clauses, little-known contracts that often ban customers from taking part in class action lawsuits. They are regularly included in the fine print for checking accounts, credit cards and other consumer products.

By Jonnelle Marte

Full Story: https://www.washingtonpost.com/news/get-there/wp/2016/09/29/why-wells-fargo-customers-wont-be-able-to-sue-the-bank-over-fake-accounts/